Hop on ION Mobility! This Singapore-based startup just raised an $18.7M Series A to hit the accelerator on their growth. Oh, and they're also bringing on TVS Motor Company along for the ride as a strategic investor!

• TVS is an Indian global motorcycle manufacturer.
  

Investor check. AC Ventures Malaysia, as well as existing investors TNB Aura, Quest Ventures, Monk's Hill Ventures, Village Global, GDP Venture, SEEDS Capital and Plug and Play also joined in!

• 👼🏻: Michael Sampoerna and ION's Chief Manufacturing Officer Ng Ho Sen.
• They last raised a $6.8M seed in 2021.

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🏍️ ION know you yet

Founded in 2019, ION builds sustainable, affordable and high-performance smart e-motorbikes for Southeast Asians.

Firsts. In November last year, they launched their first electric vehicle, the M1-S electric scooter, in Indonesia.

• They also landed a deal with an Indonesian state-owned grid operator, Perusahaan Listrik Negara (PLN), to expand PLN's EV charging network and services.

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💡 What's the strategy?

TVS will share their global expertise and ecosystem to help ION win the e-bike markets in Singapore and Indonesia. This will help them speed up production readiness for the M1-S and design and development for other models!

• TVS invested through their Singapore subsidiary, TVS Motor (Singapore).
• TVS has four state-of-the-art manufacturing facilities in India and Indonesia.

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🇮🇩 All about Indonesia

The new $$$ is to invest in their Indonesia operations. They'll make new local hires, invest in their sales and marketing presence, and more!

• This also includes improving their local supply chain, production tooling and manufacturing to hit at least 50% local Indonesian content.